Insurance Underwriters

Career Description: Review individual applications for insurance to evaluate degree of risk involved and determine acceptance of applications.

Industry: Business and Financial Operations

Other Job Titles for Insurance Underwriters:

• Realistic: Realistic occupations frequently involve work activities that include practical, hands-on problems and solutions. They often deal with plants, animals, and real-world materials like wood, tools, and machinery. Many of the occupations require working outside, and do not involve a lot of paperwork or working closely with others.
• Investigative: Investigative occupations frequently involve working with ideas, and require an extensive amount of thinking. These occupations can involve searching for facts and figuring out problems mentally.
• Artistic: Artistic occupations frequently involve working with forms, designs and patterns. They often require self-expression and the work can be done without following a clear set of rules.
• Social: Social occupations frequently involve working with, communicating with, and teaching people. These occupations often involve helping or providing service to others.
• Enterprising: Enterprising occupations frequently involve starting up and carrying out projects. These occupations can involve leading people and making many decisions. Sometimes they require risk taking and often deal with business.
• Conventional: Conventional occupations frequently involve following set procedures and routines. These occupations can include working with data and details more than with ideas. Usually there is a clear line of authority to follow.
• First Interest High-Point: Primary-Rank Descriptiveness
• Second Interest High-Point: Secondary-Cutoff/Rank Descriptiveness
• Third Interest High-Point: Tertiary-Cutoff/Rank Descriptiveness

• Examine documents to determine degree of risk from such factors as applicant financial standing and value and condition of property.
• Decline excessive risks.
• Write to field representatives, medical personnel, and others to obtain further information, quote rates, or explain company underwriting policies.
• Evaluate possibility of losses due to catastrophe or excessive insurance.
• Decrease value of policy when risk is substandard and specify applicable endorsements or apply rating to ensure safe profitable distribution of risks, using reference materials.
• Review company records to determine amount of insurance in force on single risk or group of closely related risks.
• Authorize reinsurance of policy when risk is high.
• Interview or correspond with agents and claimants to correct errors or omissions and to investigate questionable claims.
• Refer questionable claims to investigator or claims adjuster for investigation or settlement.
• Examine titles to property to determine validity and act as company agent in transactions with property owners.
• Obtain credit information from banks and other credit services.
• Communicate with former associates to verify employment record and to obtain background information regarding persons or businesses applying for credit.
• Review applications for mergers, acquisitions, establishment of new institutions, acceptance in Federal Reserve System, or registration of securities sales to determine their public interest value and conformance to regulations, and recommend acceptance or rejection.
• Resolve problems concerning the overall financial integrity of banking institutions including loan investment portfolios, capital, earnings, and specific or large troubled accounts.
• Evaluate data processing applications for institutions under examination to develop recommendations for coordinating existing systems with examination procedures.
• Confer with officials of real estate, securities, or financial institution industries to exchange views and discuss issues or pending cases.
• Inform health professionals, property owners, and the public about harmful properties and related problems of water pollution and contaminated wastewater.
• Analyze and implement state, federal or local requirements as necessary to maintain approved pretreatment, pollution prevention, and storm water runoff programs.
• Perform laboratory tests on samples collected, such as analyzing the content of contaminated wastewater.
• Review and evaluate applications for registration of products containing dangerous materials, or for pollution control discharge permits.
• Research and perform calculations related to landscape allowances, discharge volumes, production-based and alternative limits, and wastewater strength classifications, then make recommendations and complete documentation.
• Participate in the development of spill prevention programs and hazardous waste rules and regulations, and recommend corrective actions for hazardous waste problems.
• Maintain and repair materials, worksites, and equipment.
• Conduct research on hazardous waste management projects in order to determine the magnitude of problems, and treatment or disposal alternatives and costs.
• Respond to questions and inquiries, such as those concerning service charges and capacity fees, or refer them to supervisors.

Emerging Tasks

• Interview or correspond with claimant and witnesses, police, physicians, or other relevant parties to determine claim settlement, denial, or review.
• Investigate and assess damage to property and create or review property damage estimates.
• Review police reports, medical treatment records, medical bills, or physical property damage to determine the extent of liability.

• Analyzing Data or Information: Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.
• Assisting and Caring for Others: Providing personal assistance, medical attention, emotional support, or other personal care to others such as coworkers, customers, or patients.
• Coaching and Developing Others: Identifying the developmental needs of others and coaching, mentoring, or otherwise helping others to improve their knowledge or skills.
• Communicating with Persons Outside Organization: Communicating with people outside the organization, representing the organization to customers, the public, government, and other external sources. This information can be exchanged in person, in writing, or by telephone or e-mail.
• Communicating with Supervisors, Peers, or Subordinates: Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person.
• Controlling Machines and Processes: Using either control mechanisms or direct physical activity to operate machines or processes (not including computers or vehicles).
• Coordinating the Work and Activities of Others: Getting members of a group to work together to accomplish tasks.
• Developing and Building Teams: Encouraging and building mutual trust, respect, and cooperation among team members.
• Developing Objectives and Strategies: Establishing long-range objectives and specifying the strategies and actions to achieve them.
• Documenting/Recording Information: Entering, transcribing, recording, storing, or maintaining information in written or electronic/magnetic form.
• Drafting, Laying Out, and Specifying Technical Devices, Parts, and Equipment: Providing documentation, detailed instructions, drawings, or specifications to tell others about how devices, parts, equipment, or structures are to be fabricated, constructed, assembled, modified, maintained, or used.
• Establishing and Maintaining Interpersonal Relationships: Developing constructive and cooperative working relationships with others, and maintaining them over time.
• Estimating the Quantifiable Characteristics of Products, Events, or Information: Estimating sizes, distances, and quantities; or determining time, costs, resources, or materials needed to perform a work activity.
• Evaluating Information to Determine Compliance with Standards: Using relevant information and individual judgment to determine whether events or processes comply with laws, regulations, or standards.
• Getting Information: Observing, receiving, and otherwise obtaining information from all relevant sources.
• Guiding, Directing, and Motivating Subordinates: Providing guidance and direction to subordinates, including setting performance standards and monitoring performance.
• Handling and Moving Objects: Using hands and arms in handling, installing, positioning, and moving materials, and manipulating things.
• Identifying Objects, Actions, and Events: Identifying information by categorizing, estimating, recognizing differences or similarities, and detecting changes in circumstances or events.
• Inspecting Equipment, Structures, or Material: Inspecting equipment, structures, or materials to identify the cause of errors or other problems or defects.
• Interacting With Computers: Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.
• Interpreting the Meaning of Information for Others: Translating or explaining what information means and how it can be used.
• Judging the Qualities of Things, Services, or People: Assessing the value, importance, or quality of things or people.
• Making Decisions and Solving Problems: Analyzing information and evaluating results to choose the best solution and solve problems.
• Monitor Processes, Materials, or Surroundings: Monitoring and reviewing information from materials, events, or the environment, to detect or assess problems.
• Monitoring and Controlling Resources: Monitoring and controlling resources and overseeing the spending of money.
• Operating Vehicles, Mechanized Devices, or Equipment: Running, maneuvering, navigating, or driving vehicles or mechanized equipment, such as forklifts, passenger vehicles, aircraft, or water craft.
• Organizing, Planning, and Prioritizing Work: Developing specific goals and plans to prioritize, organize, and accomplish your work.
• Performing Administrative Activities: Performing day-to-day administrative tasks such as maintaining information files and processing paperwork.
• Performing for or Working Directly with the Public: Performing for people or dealing directly with the public. This includes serving customers in restaurants and stores, and receiving clients or guests.
• Performing General Physical Activities: Performing physical activities that require considerable use of your arms and legs and moving your whole body, such as climbing, lifting, balancing, walking, stooping, and handling of materials.
• Processing Information: Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.
• Provide Consultation and Advice to Others: Providing guidance and expert advice to management or other groups on technical, systems-, or process-related topics.
• Repairing and Maintaining Electronic Equipment: Servicing, repairing, calibrating, regulating, fine-tuning, or testing machines, devices, and equipment that operate primarily on the basis of electrical or electronic (not mechanical) principles.
• Repairing and Maintaining Mechanical Equipment: Servicing, repairing, adjusting, and testing machines, devices, moving parts, and equipment that operate primarily on the basis of mechanical (not electronic) principles.
• Resolving Conflicts and Negotiating with Others: Handling complaints, settling disputes, and resolving grievances and conflicts, or otherwise negotiating with others.
• Scheduling Work and Activities: Scheduling events, programs, and activities, as well as the work of others.
• Selling or Influencing Others: Convincing others to buy merchandise/goods or to otherwise change their minds or actions.
• Staffing Organizational Units: Recruiting, interviewing, selecting, hiring, and promoting employees in an organization.
• Thinking Creatively: Developing, designing, or creating new applications, ideas, relationships, systems, or products, including artistic contributions.
• Training and Teaching Others: Identifying the educational needs of others, developing formal educational or training programs or classes, and teaching or instructing others.
• Updating and Using Relevant Knowledge: Keeping up-to-date technically and applying new knowledge to your job.

Detailed Work Activities

• analyze financial data
• evaluate degree of financial risk
• follow contract, property, or insurance laws
• gather relevant financial data
• identify financial risks to company
• inspect property
• make decisions
• review data on insurance applications or policies
• use computers to enter, access and retrieve financial data
• write business correspondence
• examine evidence to determine if it will support charges
• fill out business or government forms
• fill out insurance forms
• follow contract, property, or insurance laws
• follow rules of evidence procedures in legal setting
• gather physical evidence
• inspect property
• inspect property to determine damages
• interview customers
• investigate insurance claims
• maintain insurance records
• maintain records, reports, or files
• make decisions
• obtain information from individuals
• prepare reports
• recommend claim action
• research property records
• review data on insurance applications or policies
• review insurance policies to determine appropriate coverage
• search legal records
• transcribe spoken or written information
• understand property documents
• use interviewing procedures
• use knowledge of investigation techniques
• use negotiation techniques
• use oral or written communication techniques
• verify information for credit investigations
• verify investigative information
• write business correspondence
• write vehicle damage repair estimates
• use knowledge of relevant laws
• use oral or written communication techniques
• use pollution control techniques
• use public speaking techniques
• verify investigative information

Overall Experience
Previous work-related skill, knowledge, or experience is required for these occupations. For example, an electrician must have completed three or four years of apprenticeship or several years of vocational training, and often must have passed a licensing exam, in order to perform the job.

Job Training
Employees in these occupations usually need one or two years of training involving both on-the-job experience and informal training with experienced workers.

Education
Most occupations in this zone require training in vocational schools, related on-the-job experience, or an associate's degree. Some may require a bachelor's degree.

Examples
These occupations usually involve using communication and organizational skills to coordinate, supervise, manage, or train others to accomplish goals. Examples include funeral directors, electricians, forest and conservation technicians, legal secretaries, interviewers, and insurance sales agents.

• Average hourly wage (2007) -$26.22
• Average annual wage (2007) - $54,530.00

• Projected growth (2006-2016): 6.30%
• Projected need (2006-2016): 6,585
• Employment (2006): 104,477

• Actuaries
• Assessors
• Claims Examiners, Property and Casualty Insurance
• Cost Estimators
• Credit Analysts
• Insurance Appraisers, Auto Damage
• Insurance Policy Processing Clerks
• Procurement Clerks
• Tax Preparers
• Tax Preparers